mmignot, thanks. The research in the letter was heavily focused on ES and the scientific patriots. Many on this board have, for years, made this criticism of the BOD. The Ronin group could have easily read it here on ihub, and likely did as part of their DD. Posters here displayed a frustration regularly with the BOD.
The Ronin letter intensified and expanded the DD on the ES group. My concern is Ronin’s apparent lack of DD on the anti-PS platform. This is why I suggested that Peregrine arrange presentations for shareholders by Dr. Wolchok or Dr. Brekken.
The emotion carried by the letter seemed to create a “baby with the bathwater” momentum.
No doubt AVID is a growing value for Peregrine, created by Peregrine, and moving rapidly toward profitability. Thanks to the current management, not the Ronin group.
Steve King has been repeatedly stating that PPHM is undervalued, and the Ronin group has recently (starting in February 2017) taken advantage of that undervalued share price to build a position in the stock. Ronin was able to lift the LID off the stock.
There has been a long history of the LID on the PPHM pps. Shorters, (wash, rinse and repeat) pushed the pps lower and lower through the persistent short selling. Many long investors gave up shares to the shorts as the price dropped. The blame was always directed at the company for dilution by financing operations through shares sales. The more shorters drove down the pps, the more they participated in the dilution of PPHM stock.
AVID has been greatly expanded to cover income needs for Peregrine through CGMP Biomanufacturing.
I would not want to see AVID spun off or divorced in any way from the R&D arm of Peregrine. Negotiating strength for Peregrine is crucial. AVID is the engine that Peregrine developed to grow income and guarantee strength.
I didn’t invest in PPHM to own a factory. That’s not to say I’m not pleased with what Peregrine has accomplished with AVID.
My central focus remains the anti-PS platform. I believe the Wolchok (MSK) lab has again demonstrated that anti-PS has an important place in the future of immunotherapy combinations.
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